Stanbery Homes, Inc. - 5800
5800 Sylvan Ridge Drive, Toledo, Ohio
This property was part of a larger portfolio of apartments that a local residential builder/developer family built over the years. We were engaged to sell the entire portfolio. The goal was to sell the properties over a two year span so the proceeds could be spread over multiple tax years. This particular asset was the newest, being built in 2004 and was in a very good location and in excellent condition. The main problem was the rents had been reduced when the market softened and it was going to be difficult to obtain the necessary rents to maximize a sale in today’s market.
We worked with the seller to increase rents and reduce expenses where possible to improve how this would appear to potential investors, while creating an attractive marketing package to present to said investors. We then started a mailing/calling campaign geared to smaller, high-end buyers wanting newer product.
We found a couple who live near the complex that wanted to add a quality property to their investment portfolio and we were able to negotiate a contract satisfactory to both sides and conclude a sale.
"You have been the best Realtor and I recommend you to everyone."
- Eileen Stanbery, Owner | Stanbery Homes, Inc.